That’s a lot of bonds with less than no return
Almost $10tn of negative yielding government bonds are costing investors about $24bn annually, according to calculations by Fitch, posing challenges to long-term investors that rely on sovereign debt as a bedrock of their portfolios.
[Pension deficits are] a ticking time bomb. Unfortunately, it is one that will explode slowly so it never creates the feeling of a crisis
https://next.ft.com/content/8d9627e2-1223-11e6-839f-2922947098f0